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Explore Our Mortgage Blog

At Smartfi Home Loans, LLC, we strive to ensure you have the tools you need to make an informed decision about your home and your retirement. As we look for opportunities to provide transparency in the reverse mortgage industry, implementing this blog is one of the many efforts in support of that goal. We hope these articles will help answer your questions about reverse mortgages, determine if one may be right for you, and ultimately, provide you with a comprehensive understanding of reverse mortgage loans.

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The 8 Step Guide to the Reverse Mortgage Process

Older adults over the age of 62 who are homeowners sometimes need a substantial amount of money to pay off their existing mortgage, pay for healthcare expenses, pay for home improvement services, or supplement their income. Because they own their homes, they could use the equity in their houses to…

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Non-FHA (Federal Housing Administration) Mortgage

With today's ever-changing economic climate, there are many reasons why long-time homeowners and seniors might find themselves in need of additional income. Fortunately, a lifetime of investment in your property has doubled as an investment in your future financial stability. At Smartfi Home Loans, we understand the importance of making…

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What Is a Home Equity Conversion Mortgage (HECM)?

If you’re looking for a time-efficient way to generate retirement income without selling your car, stocks, or bonds, a Home Equity Conversion Mortgage might be the right solution for you. As the cost of travel, elderly care, and home maintenance rise, more retirees and senior citizens across different states are…

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What Is a Home Equity Conversion Mortgage (HECM) for Purchase Loan?

If you are 62** or older, the Home Equity Conversion Mortgage (HECM) for purchase can help you get the home of your dreams without the required monthly mortgage payments.* It is a perfect opportunity to buy your next home without worrying about the finances, property taxes, and other costs. In…

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What Are Reverse Mortgages and How Do They Work?

Reverse mortgages are an innovative way for homeowners, ages 62 and above,** to leverage the equity they have earned in their home. There are several ways a reverse mortgage can help homeowners in retirement, however, it's crucial to understand how reverse mortgages work to realize the full benefits. With that…

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Proprietary Reverse Mortgage: What You Need to Know

Have you considered a proprietary reverse mortgage option as a senior homeowner? If you enjoy substantial equity in your home, a reverse mortgage is one of the best loan options to access some extra cash. Why not use it to improve your financial situation and meet everyday expenses, debts, and…

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How to Refinance Your Reverse Mortgage

Homeowners looking to get more from their home equity could try to refinance their reverse mortgage loan. Reverse mortgages allow you to turn your home’s equity into cash without making monthly payments, other than homeowners’ insurance and taxes. You can use the money you receive for anything, from medical bills…

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Jumbo Reverse Mortgage

Are you worried that a traditional reverse mortgage loan won't get you the right value for your home? Then it would be best if you considered a jumbo reverse mortgage, a specialized program designed for high-value homeowners. If you own a high-value home and want to get a reverse mortgage,…

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What Is a Reverse Mortgage Line of Credit?

Is a reverse mortgage line of credit worth exploring? Yes, because our homes mean the world to us. We see them as places of comfort and safety, but a home also represents one of the most significant investments a family will make in their lifetime, often with the help of…

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What Is a HECM Loan?

What Are HECM Loans: The Only Guide You Need As you approach retirement, you might discover personal savings and limited income are not enough to pay for living expenses. For example, whether you'd like extra income to help pay for home repairs or cover medical bills, HECM loans could be…

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Traditional Mortgages vs. Reverse Mortgages: What’s the Difference?

For most people who want to own a home one day, getting a traditional mortgage becomes their only option. However, the United States is currently under a real estate boom with soaring home prices. As such, a large portion of the population can only afford to wait for a market…

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Reverse Mortgage Credit Score Requirements

Unlike other traditional loan and financing arrangements, the FHA insured reverse mortgage does not have a minimum FICO score requirement. However, the FHA and most proprietary reverse mortgages still undergo a financial assessment of the borrower to ensure this is the right loan for them. Unlike the FHA insured reverse…

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Understanding Reverse Mortgage Loan Closing Costs

Will reverse mortgage closing costs, interest rates, and other features affect your decision to take out a loan? Brookings Institution reports that less than 1% of eligible property owners have taken advantage of a reverse mortgage option in the past, but it is well worth exploring if you have equity…

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Reverse Mortgage HECM Loans: The Basics Pros & Cons

We all want more financial freedom, especially as we move into retirement and have more time to spend on vacation and with family. However, with pricy mortgage costs weighing us down monthly, we can struggle to find enough spare funds to put that free time to good use. Many seniors…

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The Value of Hardscaping at Your Home

Curb appeal is one of the biggest factors when selling a home. Keeping the exterior of your home tidy and aesthetically pleasing can keep your neighborhood beautiful, encourage other homeowners to take pride in their homes, and attract more buyers if you are trying to sell. While something as simple…

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Getting Keys

What to expect after your offer is accepted

Did your offer get accepted?  If so, congratulations! One of the first major items in the escrow process is the home inspection. Hopefully you took some time for yourself to have a quick celebration but with the escrow clock ticking you will need to get right down to business so…

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Finding a home and making an offer

In earlier posts we discussed finding the right lender and realtor. Now it is time to move on to the most exciting and sometimes nerve racking part of the home buying process. It is time to search for that home of your dreams and make an offer. Before hopping into…

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How to pick the right real estate agent

In our last post we talked about the pre-approval and how the two most important items that any potential home buyer needed to focus on first was their credit and their pre-approval. Assuming all looked good in those areas, the next item to sit down and consider is how to…

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Two major items home buyers need to think about before contacting a realtor.

Many people find it useful to have a checklist and on any good checklist these 2 items should be the first items on that list. as they are essential to getting the ball rolling on your dream of home ownership. The 2 major items a potential home shopper needs to…

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Peak Season

Selling (or Buying) in Peak Real Estate Season

Produce has a season. So do sports. But did you know that real estate has a peak season as well? People buy and sell homes all year long but there are certain times of the year when more transactions are likely to take place. The peak real estate season refers…

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